Charterhouse customers with Kshs. 500,000 deposits set for immediate pay – KBC

Charterhouse Bank customers who have insured deposits of up to half a million shillings will be the first in line as Kenya Deposit Insurance Corporation (KDIC) begins processing claims to depositors of the lender currently in liquidation.

KDIC however says in a statement that only insured deposits will be paid as initial claims to eligible depositors after the Central Bank of Kenya appointed the corporation to wind up the bank.

“It should be noted that only insured deposits up to a maximum of Kshs. 500,000 shall be paid immediately upon verification. Balances of deposits above the insured threshold and other creditors’ claims will be paid equitably as and when the liquidator accumulated sufficient funds from the liquidation process.”

According to the insurer, processing of claims is scheduled to commence on 3^rd June 2021 through its website, CBK Kisumu and Mombasa branches as well as Charterhouse Bank headquarters in Nairobi with claimants expected to receive their deposits electronically.

Early this month, CBK gave KDIC the green-light to begin winding up the troubled lender following a report which recommended the process as the only option due to severe breach of banking regulations.